The global peripheral angioplasty market, valued at USD 3.4 billion in 2023, is projected to more than double, reaching USD 7.2 billion by 2033. This growth reflects a robust compound annual growth rate (CAGR) of 7.7% throughout the forecast period.
Peripheral angioplasty, a minimally invasive procedure designed to treat peripheral arterial disease (PAD), is gaining momentum as a preferred treatment option. PAD, characterized by the narrowing or blockage of blood vessels in the peripheral arteries, primarily affects the legs and is increasingly prevalent among the elderly and individuals with risk factors such as smoking, diabetes, and hypertension.
The procedure involves the insertion of a catheter with a balloon at its tip into the affected artery. Inflation of the balloon expands or clears the artery, restoring normal blood flow. This approach is favored for its minimally invasive nature and effectiveness in improving patient outcomes.
The peripheral angioplasty market’s expansion is driven by several factors, including:
- Rising Incidence of PAD: The growing prevalence of PAD globally is fueling the demand for effective treatment options.
- Technological Advancements: Innovations such as drug-coated balloons and drug-eluting stents have enhanced the efficacy of peripheral angioplasty, reducing the risk of restenosis (re-narrowing of the artery) and improving long-term results.
- Increasing Preference for Minimally Invasive Procedures: Patients and healthcare providers are increasingly opting for minimally invasive treatments, which offer quicker recovery times and reduced complications.
The market landscape is highly competitive, with a mix of established and emerging players striving to capture market share. Companies are focusing on product differentiation, pricing strategies, and innovative marketing efforts to stand out in this growing sector.
As advancements continue and the demand for effective PAD treatments rises, the peripheral angioplasty market is poised for significant growth, offering promising opportunities for both industry stakeholders and patients alike.
Key Takeaways from the Peripheral Angioplasty Market:
- The peripheral angioplasty industry in the United States is predicted to reach USD 2.3 billion by 2033, increasing at a 6.8% CAGR.
- The peripheral angioplasty industry in the United Kingdom is estimated to reach a market share of USD 229.3 million, expanding at a CAGR of 4.2% by 2033.
- During the forecast period, the peripheral angioplasty industry in China is expected to reach a market share of USD 732.1 million, securing an 13.0% CAGR.
- The peripheral angioplasty industry in Japan is predicted to reach USD 448.8 million by 2033, increasing at a 9.0% CAGR.
- South Korea’s peripheral angioplasty industry is predicted to achieve a market share of USD 143.7 million, rising at an 8.7% CAGR during the forecast period.
- With a CAGR of 5.2% from 2023 to 2033, the balloon catheters segment is expected to dominate the peripheral angioplasty industry.
- With a CAGR of 6.3% from 2023 to 2033, the hospital is expected to dominate the peripheral angioplasty industry.
Peripheral Angioplasty in Demand: Check Out Our Full Report for a Complete Overview of the Trends and Insights!
How Does the Competition Look in the Peripheral Angioplasty Market?
The peripheral angioplasty sector is a very competitive one, with many firms fighting for market share. Several significant participants in this industry comprise Boston Scientific Corporation, Medtronic, Abbott Laboratories, Terumo Corporation, Johnson & Johnson, Cook Medical, B. Braun Melsungen AG, Edwards Lifesciences Corporation, Becton, Dickinson and Company, MicroPort Scientific Corporation, Teleflex Incorporated, W. L. Gore & Associates, “Biotronik SE & Co. KG”, AngioDynamics, Inc.
The main corporations are investing extensively in research and development efforts to develop inventive and creative products with improved reliability, efficacy, and cost.
Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another’s strengths and expand their market influence.
Leading firms use consolidation and mergers to strengthen their market position and gain entry into new markets. The sector is expanding significantly in developing economies, particularly in India and China.
To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering cost-effective solutions to customers in these markets in order to get a competitive advantage.
Key Developments in the Peripheral Angioplasty Market:
In May 2022, Medtronic announced that the IN.PACT™ paclitaxel-coated percutaneous transluminal angioplasty balloon catheter received approval from the U.S. Food and Drug Administration (FDA).
Segmentation Analysis of the Peripheral Angioplasty Market:
By Product:
- Balloon Catheters
- Stents
- Guidewires
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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